On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?
EUR/USD can correct more
2020-11-10 • Updated
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move. This consolidation may turn out to be a bearish flag if the price moves below the support in the 1.1810/00 area. In this case, the pattern on the chart will become a “Head and Shoulders” opening the way to a deeper decline to the 1.1770/60 area (50-day Mam 50% retracement of November advance).
Trade idea for EUR/USD
SELL 1.1795; TP 1.1765; SL 1.1815
The Turkish lira has been pressed by Turkey’s central bank (CBRT). Analysts believe USD/TRY will reach 10.00 by the year's end.
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USD/TRY belongs to the exotic group of Forex currency pairs, that’s why traders don’t trade it regularly. However, these days this pair is in the focus of all the trading community!
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